Important information for investors€¦ · • This presentation contains non-IFRS information and forward-looking statements with respect to the strategy, ... KBC and CBC (20% in

Important information for investors

2

• This presentation is provided for information purposes only. It does not constitute an offer to buy or sell any security issued by an entity of the KBC group, nor does it constitute investment advice.

• KBC believes that this presentation is reliable, although some information is condensed and therefore incomplete. KBC cannot be held liable for any direct or consequential loss or damage resulting from the use of the information.

• This presentation contains non-IFRS information and forward-looking statements with respect to the strategy, earnings and capital trends of KBC. The forward-looking statements are based on a best effort assessment of expected economic growth, were drafted in accordance with applicable legislation and involve numerous assumptions and uncertainties. A change in the expected economic growth or applicable legislation can cause changes in the forward-looking statements. More generally, there is a risk that these statements may not be fulfilled and that future developments could differ materially. KBC does not undertake any obligation to update the presentation in line with new developments.

• By reading this presentation, investors are deemed to represent that they possess sufficient expertise to understand the risks involved. Investors are expected to make their own investment decisions without undue reliance on this presentation.

KBC Investor Day - June 2014

• KBC Group Strategy

• Capital Management

• Belgium Business Unit

• Czech Republic Business Unit

• International Markets Business Unit

• Risk Management

• Group Centre

• Conclusion


Content

3

KBC at a glance

6

KBC Group passport

Clients 10 million

Staff (FTEs) 36 177 57% 43% BEL 45% CEE 51% Rest 4%

Network 1 616 bank branches worldwide 470 tied insurance agencies in Belgium various insurance distribution channels in CEE various online channels

Principal brands and market share

Belgium: KBC and CBC (20% in banking, 17% in life , 9% in non-life, 33% in investment funds ) Czech Republic: ČSOB (19% in banking, 6% in life, 6% in non-life, 28% in investment funds ) Slovakia: ČSOB (10% in banking, 5% in life, 3% in non-life, 7% in investment funds) Hungary: K&H (9% in banking, 3% in life, 5% in non-life, 17% in investment funds) Bulgaria: CIBANK and DZI (2% in banking, 10% in life, 10% in non-life) Ireland: KBC Bank Ireland (10% in retail mortgage loans, 3% in retail deposits)

Balance sheet total EUR 246 bn

AUM EUR 167 bn

Loans EUR 120 bn

Deposits EUR 151 bn

Life reserves EUR 27 bn

Market share: KBC’s own estimates; Loans: loans and advances to customers (excl. reverse repos); deposits; deposits from customers and debt certificates (excl. repos). Financial data at 31 March 2014; other data at 31 December 2013

KBC Investor Day - June 2014 - KBC Group Strategy

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While regulatory and economic uncertainties start to recede…

• Economic environment: euro and sovereign crises abated, and mild macroeconomic recovery in all of KBC’s markets

• Regulatory framework: uncertainties have not gone, but many steps taken towards implementation of Basel III, CRD IV, Solvency II, …

• EMU: institutional architecture progressing (e.g. banking union)

7

…KBC has left the past behind…

155 143 132 126 102 91 94

-39%

1Q14 (Basel III)

2013 (Basel III)

2012 (Basel II)

2011 (Basel II)

2010 (Basel II)

2009 (Basel II)

2008 (Basel II)

RW

A (

EUR

bn

)

-71%

1Q14

2.0

2013

2.3

2012

3.5

2011

6.5

2010

7.0

2009

7.0

2008

3.5

26 2517 16

6

23-84%

1Q14 (net risk)

4

2013 (net risk)

2012 2011 2010 2009 2008

Co

re c

apit

al s

ecu

riti

es

sold

to

Bel

gian

an

d

Flem

ish

go

vern

men

ts

(EU

R b

n)

CD

O e

xpo

sure

(

EUR

bn

)

GII

PS

gove

rnm

ent

bo

nd

s (E

UR

bn

)

1610

5 3

-83%

2013

2

1Q14

2

2012 2010 2011 2009

Divestment programme virtually completed (sale agreements for KBC

Deutschland and Antwerp Diamond Bank still to be

approved by regulators), resulting in a smaller, more focused group

EUR 5 bn out of EUR 7 bn state aid already paid back. Intention to accelerate the repayment of state aid (+ penalties) by year-end 2017 at the latest

Other risks (CDO, GIIPS government securities)

significantly reduced. Net CDO risk now EUR 4.1 bn, GIIPS government bond exposure (excluding trading book) EUR 2.7 bn

KBC Investor Day - June 2014 - KBC Group Strategy 8


…and secured its risk profile via embedded risk management

Risk management fully embedded in KBC’s strategy and decision-making process:

• Group Executive Committee and Board of Directors define a clear risk appetite inspired by end-to-end risk processes:

- Risk scan identifying all top risks

- Clear decision on risk appetite

- Operational translation into strict limit monitoring per business activity and per business unit

- New and Active Product Process surveying the risk profile of existing and new products

- Stress testing to challenge the outcome of regular planning processes

• Group wide embedded risk organisation:

- Close monitoring of possible changes in risk profile relative to risk appetite

- Independent CROs with time-out right at all levels of the organisation

9

KBC’s activities result in a ‘plain vanilla’ balance sheet, representing an integrated bank-insurance group with diversified exposures across Belgium, Central Europe and Ireland

KBC Group today: a ‘low risk’ bank-insurance group with...

Insurance activity

12%

Operational risk 12%

Market risk

4%

Credit risk 73%

KBC Group - RWA distribution


Other Retail Loans

41%

13%

SME / Corporate Loans Residential Mortgages

43%

Consumer Finance

3%

Loan distribution: total retail = 59%

38

13

19

44

121

12

26

1219

27

136

16

10

Total assets (EUR 246 bn)

Total liabilities and equity (EUR 246 bn)

10 *Including (reverse) repos

Insurance investment portfolio

Trading assets

Other (incl. interbank loans, intangible fixed assets...

Bank investment portfolio

Insurance investment contracts

Loan book*

Technical provisions, before reinsurance

Trading liabilities

Customer deposits*

Liabilities under insurance investment contracts:

Debt certificates

Equity

Other (incl. interbank deposits)

11

… a strong capital position…


* Including remaining state aid as agreed with local regulator (2bn at end 1Q14)

CET1 ratio* - KBC Group

1Q14

12.2%

2013

12.8%

2012

10.5%

2011

10.6%

2010

10.9%

2009

9.2%

2008

7.2%

Core Tier1 ratio (B2)

Fully loaded B3 CET based on Danish Compromise

CET1 ratio - KBC Bank

Solvency 1 ratio - KBC Insurance

1Q14

299%

2013

281%

2012

322%

2011

201%

2010

216%

2009

260%

2008

188%

12.0% 11.6%

2013

9.3%

2012 1Q14

10.6%

2010

9.6%

2011 2009

9.1%

2008

7.2%

Core Tier1 ratio (B2)

Fully loaded B3 CET based on Danish Compromise

… and solid liquidity position…

KBC Bank continues to have a strong retail/mid-cap deposit base in its core markets – resulting in a stable funding mix with a significant portion of the funding attracted from core client segments and markets

75%

9%

9%

100%

1Q14

2%

3% 2%

Funding from customers

Certificates of deposit

Total equity

Debt issues placed with institutional investors

Net secured funding

Net unsecured interbank funding

7.0% 3.0%

29.0%

62.0%

Debt issues in retail network

Government and PSE

Mid-cap

Retail and SME

75% client-driven

Ratios 1Q14

NSFR 108%

LCR 130%

12 KBC Investor Day - June 2014 - KBC Group Strategy

Available liquid assets are more than 5 times the amount of the net recourse to short-term wholesale funding

The C/I ratio has sharply improved from 64% at year-end 2008 to 52% at year-end 2013

Generally favourable non-life combined ratio

Adjusted profitability has remained robust, despite considerable deleveraging (RWA reduced by EUR 61 bn or

roughly 40% between year-end 2008 and 2013)

… having strong cost-efficiency and robust profitability


960

688702

2013

1 648

2012

1 542

2011

1 800

1 098

2010

1 710

2009

1 724

2008

2 270

Adjusted net result

One-off impairments Ireland and Hungary

Impact Greece, 5-5-5 product, FX law Hungary,…

Adjusted net result (EUR m)

2013

52%

2012

57%

2010 2011

55%

2008

60% 56%

2009

64%

Cost/income ratio (banking) (based on adjusted results)

Non-life combined ratio

2013

94%

2012

95%

2010 2011

101%

2008

92% 100%

2009

95%

… resulting in sustainable returns, clearly above the sector average


Despite the financial and economic crisis, the adjusted ROE* of KBC Group is holding up well over time (>10%)

Current adjusted ROE* at KBC Group is clearly above the sector average as well as the cost of equity

Adjusted ROE (%)

6%

10%

9%

2012 2011

15%

2013 1Q14

13%

5%

7%

2010

11%

2009

16%

2008

16%

12%

Adjusted for one-off items

Adjusted ROE

* ROE corrected for one-off items

• KBC wants to build on its strengths and be among Europe’s best performing retail-focused financial institutions. This will be achieved by:

– Strengthening our bank-insurance business model for retail, SME and mid-cap clients in our core markets, in a highly cost-efficient way

– Focusing on sustainable and profitable growth within the framework of solid risk, capital and liquidity management

– Creating superior client satisfaction via a seamless, multi-channel, client-centric distribution approach

• By achieving this, KBC wants to become the reference in bank-insurance in its core markets

KBC Group going forward: to be among the best performing

retail-focused financial institutions in Europe


KBC Group going forward: the bank-insurance business model,

different countries, different stages of implementation

16

Bank branches selling insurance products from intra-group insurance company as

additional source of fee income

Bank branches selling insurance

products of third party insurers as additional source of fee income

Acting as a single operational company: bank and insurance operations working under unified governance and achieving commercial and non-

commercial synergies

Acting as a single commercial company: bank and insurance operations working under unified governance and achieving

commercial synergies

Level 4: Integrated distribution and operation

Level 3: Integrated distribution

Level 2: Exclusive distribution

Level 1: Non-exclusive distribution

KBC targets to reach at least level 3 in every country, adapted to the local market structure and KBC’s market position in banking and insurance.


Belgium

Target for Central Europe

KBC Group going forward: The integrated KBC bank-insurance

business model adds value

17

Having both banking and insurance activities integrated within one group adds extra value: • For clients: fulfilment of client needs,

from building up wealth to protecting it; convenient and optimised one-stop financial shopping, …

• For KBC Group: diversification of income, revenue growth, lower operating expenses, synergies in know-how, enhanced risk diversification,…

Bank-insurance gross income represents roughly 50% of the total insurance income and 11% of the retail income of banks in the core countries.

Bank-insurance gross income (in millions of EUR)

121 134

127 129

235 182

2013

445

2012

482

Bank-Insurance gross income - non-life

Bank-Insurance gross income - regular life

Bank-Insurance gross income - single life


124

321

Bank-insurance gross income 2013

Commission in thebankInsurance Income fromBank Channel

Total: EUR 445 m

2017 targets for KBC Group*: CAGR bank-insurance gross income (’13-’17) ≥ 5% Combined ratio ≤ 94% C/I ratio ≤ 53%

KBC Group going forward: Strengthened in a

cost-efficient and profitable manner


Going forward, further emphasis will be put on the seamless fulfilment of client needs through our bank-insurance offering in all

our core countries, allowing us to create sustainable client relationships and to diversify KBC Group’s income

* Targets per business unit will be provided later in this presentation

KBC Group going forward: Sustainable and profitable growth within a framework of solid

risk, capital and liquidity management


• Build on KBC’s profitability* track record, enhance sustainable and profitable growth:

- Sustainable profitability is key

- CAGR for total income (’13-’17)** ≥ 2.25%

• Secure the independence of the embedded risk framework:

- Through closer monitoring by Group CRO

- Reporting to the Board of Directors of each business entity

• Strengthen the solid capital position, keep growth options open:

- Target for Common Equity Ratio (Basel III, Fully Loaded) 2014: minimum 10.50%, exceeding regulatory minimum of 9.25% (excl. gains on AFS portfolio)

• Consolidate the strong liquidity position :

- Target for NSFR 2014 ≥ 105%

- Target for LCR 2014 ≥ 105%

* Adjusted profitability ** Excluding marked-to-market valuations of ALM derivatives

KBC Group going forward: Addressing the changing environment and client behaviour

20

• Growing client self-awareness

• Digitalisation is here to stay and offers opportunities

• New entrants challenge the position of traditional players

• Data intelligence is an internal asset, certainly for a bank-insurer, to the benefit of the client


Changing Environment

The financial crisis, the advent of new technologies and the increasing use of social media are

causing a power shift within the retail banking and insurance industry

KBC Branch

KBC Group going forward: Creating superior client satisfaction via a

seamless, multi-channel client-centric distribution approach

• The client is at the heart of our bank and insurance distribution channels

• Everything starts from the client’s needs and not from KBC’s banking or insurance products or services

• The different channels are equal and reinforce each other in a seamless way

• Intelligent analysis of client data and intelligence is to the benefit of both the client and the bank-insurer

• KBC will invest roughly EUR 0.5 bn in seamless integration between 2014-2020 (roughly 50% of which will be spent in the first two years)


.

KBC Group going forward: A performance and client-centric driven corporate culture

implemented throughout the group


Results-driven

Performance

Empowerment

Accountability

Local embeddedness

Responsiveness

Focusing on building sustainable and long-term client bank-insurance relationships

By putting the client at the centre of what we do, we want to be the reference in bank-insurance

LIQUIDITY

PROFIT

CA

PIT

AL

STAK

EHO

LDER

S

KBC Group going forward: Monitored through the KBC performance diamond

KBC ‘Performance Diamond’

The performance diamond defines, within the limits of the risk management playing field, the (nominal) targets for 4 performance dimensions:

• Net profit

• Capital

• Liquidity

• Stakeholders (clients, staff, society, shareholders)

for KBC Group and for all the business units.

KBC Investor Day - June 2014 - KBC Group Strategy 23

KBC Group going forward: An optimised geographic footprint

Strengthen current geographic footprint

• Optimise business portfolio by strengthening current bank-insurance presence through organic growth or through acquisitions if possible.

• Strive for market leadership (top 3 bank/top 4 insurance) in core countries by 2020

• First priority for Ireland is to become profitable from 2016 onwards. As of then, all available options (organically grow a profitable retail bank, build a captive bank-insurance group or sell a

profitable bank) will be considered

No further plans to expand beyond current geographic footprint

KBC Group will consider acquisition options, if any, to strengthen current geographic bank-insurance footprint,

Clear financial criteria for investment decision-making, based on:

Solid capital position of KBC Group Investment returns in the short and mid terms New investment contributing positively to group ROE


KBC Group going forward: An optimised geographic footprint

Become a reference in bank-insurance in each core country

Through a local embedded bank-insurance business model and a strong corporate culture, creating superior client satisfaction

With a clear focus on sustainable and profitable growth


26

KBC Group going forward: Dividend policy


The target for the dividend payout ratio (including the coupon paid on state aid and AT1)

is at least 50% from 2016 on If there is a lack of value-accretive employment of capital, the payout ratio might surpass 50%

Based on adjusted figures

• KBC wants to be among Europe’s best performing retail-focused financial institutions. This will be achieved by:

– Strengthening our bank-insurance business model for retail, SME and mid-cap clients in our core markets, in a highly cost-efficient way

– Focusing on sustainable and profitable growth within the framework of solid risk, capital and liquidity management

– Creating superior client satisfaction via a seamless, multi-channel, client-centric distribution approach


Summary: KBC Group wants to be among the best performing retail-

focused financial institutions in Europe


28

Summary of the financial targets at KBC Group level

Targets… by…

CAGR total income (‘13-’17)* ≥ 2.25% 2017

CAGR bank-insurance gross income (‘13-’17) ≥ 5% 2017

C/I ratio ≤ 53% 2017

Combined ratio ≤ 94% 2017

Common equity ratio (fully loaded, Danish compromise)

≥ 10.5% 2014

Total capital ratio (fully loaded, Danish compromise)

≥ 17% 2017

NSFR ≥ 105% 2014

LCR ≥ 105% 2014

Dividend payout ratio ≥ 50% 2016

Based on adjusted figures


* Excluding marked-to-market valuations of ALM derivatives

KBC has raised 5 billion euros in capital over the last 1.5 years

Sale of treasury shares:

16OCT12

Capital release:

0.35

Capital increase:

10DEC12

Common increase: 1.25

Coco:

18JAN13

Increase in loss- absorbing capital:

0.8

Shareholder loans I:

03JUL13

Capital release: 0.33

Shareholder loans II:

19NOV13

Capital release:

0.67

Additional tier 1:

12MAR14

Increase in loss- absorbing capital:

1.4

(in EUR bn)

KBC Investor Day - June 2014 - Capital Management 30

31

KBC has repaid 6.3 billion EUR to the state and strengthened its capital base1

KBC Investor Day - June 2014 - Capital Management

1Q14

12.2%

2013

12.8%

9M13

12.2%

1H13

13.1%

1Q13

11.5%

2012

10.5%

9M12

11.7%

1H12

10.0%

1. With the remaining state aid included in CET1, as agreed with local regulator 2. Excluding the revaluation reserve of available-for-sales assets

EUR 3.5 bn repaid to Belgian State

EUR 1.8 bn repaid to Flemish

Govt.

EUR 0.5 bn repaid to Flemish

Govt. in Jan ’14

10.5% minimum

internal target

9.25% NBB

minimum2

(pillar 2)

EUR 0.6 bn repaid to

Belgian State in Jan ‘12

Strong B3 CET1 ratio, despite conservative RWA

32 KBC Investor Day - June 2014 - Capital Management

Source: Company filings, Goldman Sachs

Source: Company filings, Goldman Sachs

10.8%

peer 9

11.7%

peer 8

11.8%

KBC

12.2%

peer 7

12.6%

peer 6

13.0%

peer 5

14.2%

peer 4

14.6%

peer 3

15.7%

peer 2

18.3%

peer 1

19.5%

peer 10

peer 18

9.0%

peer 17

9.5%

peer 16

9.6%

peer 15

9.9%

peer 14

10.1%

peer 13

10.3%

peer 12

10.6%

peer 11

10.7%

Median: 11.7%

peer 1

19%

peer 3

22%

peer 8

23%

peer 2

23%

peer 4

25%

peer 6

27%

peer 14

27%

peer 9

30%

peer 16

32%

peer 11

32%

peer 12

33%

peer 18

38%

KBC

38%

peer 5

44%

peer 7

44%

peer 10

46%

peer 13

46%

peer 17

50%

peer 15

56%

Median: 32%

Basel 3 CET 1 Ratio (Fully loaded where available, Q1 2014)

Risk Weighted Assets vs. Total Assets (Fully loaded where available, Q1 2014)

33

KBC maintains minimum 17% total capital ratio*

• Minimum CET1 target of 10.5%

• AT1 of 1.5%

• Minimum T2 target of 2%

• Minimum total capital ratio of 17.0%

16.5% Total Capital Ratio

1.5% AT1

1Q14

2.8% T2

2017e

12.2% CET1 10.5% CET1

1.5% AT1

3.0% additional capital

2.0% T2

No less than 17.0% Total Capital Ratio


Will be filled up with T2, depending on the actual CET1

position

*Basel 3, fully loaded, Danish compromise

Optionality: leverage KBC Insurance

333299 287

262 258 249221 213 212 202 189 184

164 152

Insurer 7

Insurer 8

Insurer 11

Insurer 5

Insurer 2

Insurer 3

Insurer 1

KBC Insurer 10

Insurer 4

Insurer 6

Insurer 9

Insurer 13

Insurer 12

Robust Solvency 1 ratio at KBC Insurance: 299% at end 1Q14, without leverage

European Insurers Solvency I Capital Position1 2

(based on latest disclosures)

1. 1Q 2014 except insurers 2, 3, 4, 6, 9 and 12 (YE 2013) 2. Source: Company filings, Morgan Stanley

Average: c. 230%


Optionality: leverage KBC Insurance

100%

83% 83% 80% 80% 80% 79% 79% 78% 75% 74%

60%52%

14%6% 14% 15%

5%20%

10%

13% 29%

14%

9% 7% 5%

9%

11% 11%17%

10% 11%17%

10%

25%

66%

2%4%

1%6%

Insurer 8

3%

Insurer 11 Insurer 10

4%

Insurer 2 Insurer 7 Insurer 9 Insurer 4 Insurer 3 Insurer 5

3%

KBC

21%


4%


Lower Tier 2 Total Tier 2 Upper Tier 2 Tier 1 & Prefs Core Capital

Breakdown of insurers’ total capital1 (IFRS basis, based on FY13 disclosures3)

Option to optimally leverage KBC Insurance, possibly leading to roughly EUR 0.5 bn in extra CET1 under Solvency 1. Decision pending given the uncertainties linked to the ECB’s view on the treatment of insurance and the ALM policy under Solvency 2.

76% Average Core Capital

1. Total Capital excludes goodwill, Acquired Value of In-Force business (AVIF) and Other Intangibles (and senior debt) 2. Core Capital defined as Shareholders’ Equity – Goodwill – AVIF – Other Intangibles + Minority Interests 3. Source: Company filings, Morgan Stanley


2

36

Dividend policy going forward

• Reminder (FY2013-FY2015)*

– FY2013: no dividend

– FY2014: gross dividend of max 2 EUR/share

– FY2015: no dividend

• Dividend policy as of FY2016*: ≥ 50%

– The target for the dividend payout ratio (including the coupon paid on state aid and AT1) is

at least 50% from 2016 on

– If there is a lack of value-accretive employment of capital, the payout ratio

might surpass 50%

* Subject to approval of the General Meeting of Shareholders


Solid capital generation 2Q14-2017 Accelerate the repayment of state aid (+ penalties) by year-end 2017 at the latest: roughly 1/3 of capital available in 2Q14-2017

Increase dividend payout ratio (including coupon

for YES and AT1) to ≥ 50% from financial year 2016 onwards. Given the current solvency buffer (above 10.5% B3 CET1) and given no dividend for financial year 2015: roughly 1/3 of capital to 2Q14-2017

Invest in the business (organic growth and potential

small add-on M&A under very strict financial criteria) and deal with regulatory uncertainties: roughly 1/3 of capital to 2Q14-2017 The excess capital can be returned to the shareholders if no value-added business investments are found

37

KBC wants to keep its options open


Multi-year distribution: Planned employment of capital 2Q14-2017 (current capital buffer + capital generation 2Q14-2017)

100.0%

33.3%

33.3%

33.3%

Available excess capital

Dividends and coupon for YES & AT1

Repayment of state aid (+ penalties)

Business investments & regulatory uncertainties

40

Passport of the Belgium Business Unit

Belgium Business Unit

Clients 3.5 million

Network 827 bank branches 470 tied insurance agencies 1.2 million online subscriptions

Ranking in Belgium Top 2 in banking, Top 4 in insurance

Market share (est.) Loans 23%, Deposits 17%, Investment funds 33%, Life insurance 17%, Non-Life insurance 9%

AUM EUR 155 bn

Loans EUR 82 bn

Deposits EUR 100 bn


Allocated capital EUR 5.6 bn

Ranking/market share: KBC’s own estimates; Loans: loans and advances to customers (excl. reverse repos); Deposits: deposits from customers and debt certificates (excl. repos); Financial data at 31 March 2014; other data at 31 December 2013.

KBC Investor Day - June 2014 - Belgium Business Unit

Consistent performer with a full-year profit contribution of between EUR 1.4 and 1.6 bn in past few years

High return on allocated capital thanks to bank-insurance model and activity mix (retail, SME, mid-cap,

private banking, asset management, etc.)

with ROAC in 20%-30% range

Building on our strengths in Belgium…

41

1Q14

25%

2013

28%

2012

23%

Return on allocated capital

351

1Q14 2013

1 570

2012

1 360

Net profit contribution (EUR m)


Strong market position

• Stable client base (both bank and insurance)

• Historical presence in the country leading to longstanding client relationships

42

… opportunities are omnipresent

Summary of main strategic goals

1. To offer client-centric solutions in an ever-changing world

2. To optimise its bank-insurance franchise

3. To grow in challengers’ markets: Brussels & Wallonia


43

Client centric: integrated access & tailored solutions

Websites and mobile apps • Information and simulations • Straightforward transactions • Pro-active tailor-made proposals

based on data analytics • Ergonomics and increased user

comfort • Step up for more sophisticated

solutions via other contact points

Branches • Less transactional • Personal advice for more

sophisticated financial matters • New branch concept • Technology: real-time interaction

with the other contact points • Mobile and flexible staff (opening

hours) • Lower operating costs


Mobile applications

Internet

Contact centres / advisory centres

Physical network - Bank branch - Insurance agent

Contact centres / advisory centres • Pro-active rather than

reactive today • Data driven • Easy to access +

personalised service (physically accessible)

• Additional staff

Implementation roadmap

44 KBC Investor Day - June 2014 - Belgium Business Unit

SOPHISTICATED SOLUTIONS

2017 +

2015 - 2016

2014

SIMPLE SOLUTIONS CHANNELS DATA

Tailored solutions Instant access: anywhere,

anytime

Start it @kbc Design enhanced new data architecture

Fix client data quality

New convenient e-banking platform (Touch)

Click-to-buy button

New daily banking packages

Deploy video call and chat Re-organise contact

centres / advisory centres Etc.

High-quality remote advice

Seamless client journey across channels

Real-time data triggers for pro-active sales and service

Etc.

E-wallet

LEVERAGE EXISTING CAPABILITIES FOR VISIBLE CLIENT RESULTS NOW

DEPLOY NEW CAPABILITIES FOR ENHANCED CLIENT EXPERIENCES

PREPARE NEW CAPABILITIES PILOT NEW MODELS

BE FULLY CLIENT CENTRIC

Etc.

Client-centric approach: P&L impact

Expected top-line income upside of EUR 645 m by 2020 through growing numbers of clients, upgrading to higher segments and increased return per client (integrated access & tailored

solutions)

EUR 97 m cost reduction by 2020

Expenses include business and ICT FTE investment costs, a ‘rapid intervention budget’ as a buffer to react to competitor moves, as well as increased OPEX at HQ, for example for additional data analytics skills

45 KBC Investor Day - June 2014 - Belgium Business Unit

Expected additional annual revenues and costs (EUR m)

66

195

389

645

39

58

77

97

-41-45-47-40-45-47-3426

2020e 2019e 2018e 2017e 2016e 2015e

12

2014e

10 18

expenses

new revenues

cost savings

Grow bank-insurance business by 5% per year

NEW

INIT

IATI

VES


11 %

43 %

46 %

Banking products Insurance products

18 %

at least 3 bank and 3 insurance products

Product ownership (KBC clients)


• Longstanding universal insurance company • Stable client base (joint bank & insurance clients) still

offering substantial cross-selling potential • KBC bank-insurance gross income 2013: EUR 400 m

Unique value proposition

• Long-term relationships result in high customer loyalty and revenue stability

• Unique cooperation charter at local level between bank manager and insurance agent foster natural cross-selling

• Supported by physical proximity of bank branches and insurance agencies

Client-centric initiatives

• Insurance business: new integrated digital strategy to be applied to both bank and agency channels

• Leverage smart use of data to foster further cross-selling between banking and insurance products (deepening of existing relationships)

• Client acquisition: a specific bank-insurance value proposition for medical practitioners

49,5

84,1

63,7

76,7

40

45

50

55

60

65

70

75

80

85

Mortgages-related cross-selling in Belgium (KBC; %)

Fire insurance

Life insurance

46

47

Launch of separate brand: KBC Brussels


Current situation: • Brussels region: growing market with

untapped potential for KBC

• KBC/CBC growing slower than in respective regions

• Both KBC and CBC are present, yet neither is dominant

As of 2015 : • 1 separate brand: KBC Brussels • 1 unified KBC and CBC bank-insurance

product and service offering • Autonomous operating model (KBC platforms)

• Repositioning of existing KBC/CBC branches and introduction of innovative new branch formats

• Market challenger approach (niche and smart

targeting approach)

Targeting an increase by 2020 in: • No. of clients: + 40 000 • Revenues: + EUR 24 m

16

5

131515

25

3436

18

4

9

3

3027

12

43

OFI 5 OFI 2 OFI3 OFI 1 KBC OFI 4 Other OFI 6

Flanders + Brussels

Brussels only

Client relationships in Flanders and Brussels [% of respondents - 2012]

KBC: 150k RETAIL clients CBC: 26k RETAIL clients

48

Expansion in Wallonia

Current situation: Successful challenger strategy

• Autonomous operating and commercial model

• Solid and constant y-o-y gross revenue growth (CAGR of 5.6% since

2008)

• Growth potential in selected market segments

- Banking market share: 6% (retail), 9% (personal),

16% (private banking), 23% (SME)

- Insurance market share: 2% (retail)

As of 2015:

Increase footprint, enhance availability and service offering

• Open 8 new and relocate 10 existing bank branches (+10%)

• Bring in 8 new insurance agents (+10%)

• Bank: + 90 FTE / Insurance: + 14 support FTE

• To fully deploy KBC integrated digital strategy

Targeting a significant additional increase by

2020 in: • No. of clients: +39 000

• Revenues: + EUR 51 m

• One-off investment (EUR 14 m over 3 Y – facilities & marketing)

• Additional recurrent cost: predominantly FTE


Gross revenues, annual growth (Y vs. Y-1)

Additional annual revenues and costs (EUR m)

-11 -13 -14

1219

2835

4251

-11-10-9-8

2020e

37

2019e

29

2018e

23

2017e

17

2016e

9

2015e

3

2014e

-4

4

Additional costs Additional revenues

0

160

180

200

220

240

260 +12.2%

+8.0%

+10.2%

3.5%

2012 2011 2009 2008 2007 2006 2010

+3.2%

2004

+6.8%

+9.4%

2003

+3.5%

+5.0%

2005

EUR m

49

Financial roadmap

Target 2017 How this will be achieved

CAGR Total income (2013-2017)*

≥ 2%

Macroeconomic environment • Expected increase in long-term interest rates, supporting

growth in net interest income as well as in fee income from AM funds and life insurance

• GDP gradually recovering whilst inflation staying low

Strong domestic business with market leader position in the more affluent part of Belgium • Fully integrated bank-insurer with in-house asset

management operations • High-quality loan portfolio with profitable margins

Increased performance of distribution model • Complementing the existing branch network with the new

integrated digital strategy • Client-centric approach, with smart use of data (cross-selling),

enhanced client acquisition and revenue per client • Selective growth in challengers’ markets (Brussels and Wallonia)

Continuous strict cost and risk control

CAGR bank-insurance gross income (2013-2017)

≥ 5%

C/I ratio ≤ 50%

Combined ratio ≤ 94%


*Excluding marked-to-market valuations of ALM derivatives.

52

Passport of the Czech Republic Business Unit

Czech Republic Business Unit

Clients 4 million

Network 319 bank branches (ČSOB and Era)

1 168 tied insurance agencies Various other channels

Ranking in the Czech Republic

Top 3 in banking, Top 5 in insurance

Market share (est.) Loans 19%, Deposits 20%, Investment funds 28%, Life insurance 6%, Non-Life insurance 6%

AUM EUR 6 bn

Loans EUR 15 bn

Deposits EUR 22 bn


Allocated capital EUR 1.4 bn


KBC Investor Day - June 2014 - Czech Republic Business Unit

Consistent performer with full-year profit contribution of between EUR 0.5 and 0.6 bn in past few years

High return on allocated capital with ROAC around 40% in past few years

Favourable, stable cost/income ratio at 47% in 2012, 2013 and 1Q2014

Building on our strengths in the Czech Republic…

53

1Q14

40%

2013

40%

2012

39%

Return on allocated capital

581 554

138

2013 1Q14 2012

Net profit contribution (EUR m)



• Universal insurance company • Sound client base with room for increasing penetration • Full range of products • Insurance sales force in all bank branches • Dedicated sales manager

54

… opportunities are omnipresent

Summary of main strategic goals

1. Offer client-centric solutions

2. Generate cost-efficiency benefits

3. Accelerate bank-insurance business

4. Lending: • Maintain growth in mortgages and corporate loans • Accelerate SME and consumer finance


55

Create value for the client: from channel-driven solution to client-driven solution...

Our target is: • to put the client centre stage, engage, empower and leverage

trust • to create an integrated model, which brings together clients,

third parties and bank-insurance • to build up excellent data analytics and client insights, turn data

into added value for clients • to develop beyond-bank-insurance products to protect our value • to offer 3 distinctively different propositions (Convenience, Specialists,

Premium)

(EUR m)


FROM Channel-centric model

TO Client-centric seamlessly integrated model

• CLIENT

•DATA

• INTEGRATION

-BANK-INSURANCE

-3RD PARTIES

-14 -15-22 -20

16

31

2017e

11

2016e

-6

2015e

-11

4

2014e

-14

Transformation costs Net new income

(…)

56

... extended to beyond financial services


Protect our value by creating new added value for the client

BEYOND-FINANCIAL-SERVICES PRODUCTS

• New types of non-financial service-oriented products integrated into the model to provide added value for clients

• These products should: - de-commoditise and stimulate

the use of traditional products - strengthen connection with

clients - gather data and provide offers

• Leveraging our competitive advantages such as client data, local embeddedness and trust

Personal financial manager

Life stages and roles

Client identity management

Advertising

Secured digital archive

Convenient billing

Data mailboxes

Connection to a health insurance company

EXISTING PRODUCTS FUTURE DIRECTION

57

Simplification as a key part of our new model to generate cost-efficiency benefits

Key efficiency benefits

• Products: streamline number of products, discontinue obsolete products

• IT: IT architecture clean-up & simplification

• Digital: multi-device platform (simple to use)

and standardised processes (internal

simplification)

• Branch/distribution network optimisation: unified and integrated concept for distribution network, remove overlaps in footprint and head office, implement new formats and improve performance, review size of branches

• Branding: single concept covering both Convenience and Premium propositions

• Head office: rightsizing of central and support functions

11

18

26

36

2015e 2014e 2016e 2017e


Estimated cost savings (EUR m)

58

Further enhance and accelerate bank-insurance

New initiatives

• Advanced and flexible pricing model

• Further development of combined bank-insurance products (e.g., interim

coverage of potential claims payment via cash

loan). Bring bank-insurance into the heart of the model as a key differentiation

• Increase client awareness (insurance

marketing material and assistance service in bank branches)

• After-sales client communication to

improve client experience

• TV marketing campaign

CAGR: +15%*

2017e

30.0

2013

16.5

48%

2013 2012

39%

2013

55%

2012

59%

2013

33%

2012

36%

Cross-selling ratios

Mortg. & prop. Mortg. & life risk Cons. Fin. & life risk


Bank-insurance gross income (EUR m)

*In local currency

59

Continue growth in traditionally strong areas


10.6

CAGR: +10%

2017e 2013

7.2

Mortgages (EUR bn), outstanding volume

Aim to keep current leading position, with a market share of around 30% Expect the market to grow robustly (2013-17 CAGR:

+8%), thanks to relatively stable housing prices and low interest rates Aim to retain a high level of client loyalty (currently

80% of clients refinancing their mortgages stay)

CAGR: +12%

2017e

7.1

2013

4.5

Corporate loans (EUR bn), outstanding volume Aim to outperform the market (2013-17 CAGR: +7%) and

grow market share from the current 19% to 21% in 2017 Expect to expand, thanks to the relationship with clients and providing them with comprehensive financing solutions and the expertise in the specialised finance area

60

Mining potential in SME loans...

17%

32%

6%

45%

Key Focus

2013

CAGR: +5%

22.5 21.3

2012 2010 2011

19.7 21.6

SME market in outstanding loans has been growing, but less than in mortgages and corporate loans Concentrated market: 2/3 of it controlled by 3 banks At 13%, our market share remains below potential SME market remains attractive:

• 2013-2017 CAGR: +5% growth • Micro companies have an average 1.3 banking

relationships, while mid-sized companies have 1.8 • Loan penetration is highest amongst micro companies

* Annual turnover below EUR 1.5m ** Annual turnover between EUR 1.5m and EUR 11m


Split of 2013 SME total income

Market size (EUR bn), outstanding loans

SME portfolio offers potential: • On average, one out of three SME clients finances itself

via bank loans • Micro companies are underpenetrated • Focus mainly on mid-sized and micro companies as

they are the most profitable for us

Housing cooperatives

Mid-sized companies*

Municipalities Micro companies**

61

…and focusing on sustainable client relationships will help grow market share

SME total income (EUR bn)

SME loans (EUR bn),

outstanding volume

SME loan volume* market share (%)

* Outstanding at the given date, excl. leasing and factoring

13%

17%

2013

2017e

Enlarge sales force capacity, including mobile sales force, enabling service at client’s site Strengthen after-sales activities to improve client experience and loyalty (less emphasis in the past)

Exploit further multi-product portfolio (leasing, factoring, trade finance, financial markets, EU funds)

Shorten time-to-yes in line with existing risk processes Replicate corporate relationship ‘feel’ for mid-sized companies

CAGR: +19%

2013

2.7

2017e

5.3

CAGR: +9%

0.3

2013

0.2

2017e


62

Consumer finance: increase market share with acceptable cost of risk

Market share has been steadily growing in a stagnating market over the last 4 years, but at 11%, is still far from our potential Redesigned consumer finance approach:

• Focus on loan consolidation/refinancing, including flexible pricing at branches and exploitation of country-wide Czech Post network

• Increase online sales (time-to-yes online = zero)

• Promote the bank as a strong responsible consumer finance lender via marketing campaigns to attract new clients

• High-margin product with cost of risk around 200 bps • Increase credit limit offers for majority of clients

CAGR:+12%

2017e

1.0

2013

0.6

Consumer finance loans (EUR bn),

outstanding volume

2013

2017e

Consumer finance loans market share (%)


0.10

2017e

0.08

CAGR: +7%

2013

Consumer finance total income (EUR bn)

11%

13%

Target 2017* How this will be achieved

CAGR Total income (2013-2017)

≥ 3% Maintain growth in traditionally strong areas (mortgages and corporate loans), while exploiting growth opportunities in SME and consumer finance thanks to redesigned approach Re-position client to the centre of integrated environment and offer beyond-financial-services products to de-commoditise and stimulate use of traditional products and turn data/client insights into a source of income Strengthen insurance sales force and develop combined bank-insurance products to accelerate bank-insurance contribution Generate cost savings through more efficient procurement and reduction of organisational and ICT complexity thanks to operational model transformation


≥ 15%

C/I ratio ≤ 45%


63

Financial roadmap


*In local currency

66

Passport of the International Markets Business Unit

International Markets Business Unit

Clients In millions 0.6 1.6 0.5 0.2

Network Bank branches Tied insurance agencies

128 219

220 336

105 1 865

7 -

Ranking Banking Insurance Life / Non-Life

4th 8th / 7th

2nd 11th / 7th

11th 4th / 4th

5th -

Market share

Loans Deposits Investment funds Life insurance Non-Life insurance

10% 10% 7% 5% 3%

8% 9%

17% 3% 5%

2% 2%

- 10% 10%

10% (mortgage loans)

3% (retail)

- - -

AUM In billions of EUR 0.4 3.3 - -

Loans In billions of EUR 4.3 3.9 0.6 12.3

Deposits In billions of EUR 4.6 5.4 0.5 3.8

Life reserves In billions of EUR 0.2 0.2 0.04 -

Allocated capital In billions of EUR 0.4 0.8 0.1 0.7


KBC Investor Day - June 2014 - International Markets Business Unit

KBC Ireland is making the transition from a digitally led monoliner (mortgage)

bank to a full retail bank. Having no heritage, they can take a fresh start to develop a complete retail product offering through digital channels. KBC Ireland will be our frontrunner in implementing the new strategy

K&H and ČSOB Slovakia intend to transform their models from branch centric to a hybrid distribution model

CIBANK/DZI are following the same direction as K&H and ČSOB but with slower dynamics due to a less mature market

KBC Investor Day - June 2014 - International Markets Business Unit 67

Future position: all entities have a clear focus on hybrid (mass) affluent clients

Physical customer Hybrid customer Digital customer

Mai

n s

trea

m

Mas

s af

flu

ent

Aff

lue

nt

IE

SK

SK

68

Financial roadmap - Slovakia



≥ 3% • Business income to increase significantly above market expectations, especially in retail asset classes (home loans,

consumer finance, SME and lease)

• C/I ratio to gradually improve based on income growth (see

above) and flat trend in operating expenses (corrected for inflation).

Opex flat despite the negative impact of investments in key strategic projects and the bank levy

• Double-digit growth of top line (incl bank-insurance), periodic strong monitoring of claims development and product parameters, and a minimal growth of operating expenses, will offset the declining reserve releases in MTPL by 2017


≥ 10%

C/I ratio ≤ 58%



69

Financial roadmap - Hungary



≥ 4% • Strategy of K&H is growth-oriented, aimed at increasing

market positions in all key segments, with continuous efficiency and profitability improvements. Main focus is to improve top line. For the bank, client acquisitions and ‘share of wallet’ actions in retail, SME and Corporate remain top priority. For the insurer, growth will primarily come from sales via the bank channel

• C/I ratio will continue to be heavily impacted (15 %-points) by the sector tax in the coming years. Below-inflation increase in operating expenses driven by strict cost control initiatives


≥ 20%

C/I ratio ≤ 62%



70

Financial roadmap - Bulgaria



≥ 3% • Increased profitability through growth in selected target

segments while maintaining focus on robust risk management practices and processes. Growth will be supported by favourable economic environment in the coming years

• Bank-insurance income: strengthened cooperation and further development of products and distribution channels (sale of insurance products not linked to loans via the bank network)

• Continued strict cost control while striving for operational

excellence and efficiency

• Improved technical insurance result and increased premium, through outstanding customer service combined with operational efficiency


≥ 5%

C/I ratio ≤ 67%



71

Financial roadmap - Ireland



≥ 25%

• Strong volume growth in new retail mortgages in combination with expansion of overall retail product offering, including consumer finance and asset management, and a multi-platform distribution model

• Decrease in Corporate and SME volumes in line with deleveraging strategy

• Reduction of funding costs

• Strict cost control given the significant investment in personnel, IT and marketing to implement the Retail Strategy

C/I ratio ≤ 50%


Main risk priorities identified for the coming years

74 KBC Investor Day - June 2014 - Risk Management

Contributing to client

centricity

Information security incl.

IT cyber risk & business focus

Client protection initiatives

(incl. MiFID, ESMA, IMD)

Regulatory challenges for

SSM (AQR & stress testing),

S II, SRM & BRRD, Banking Act, etc.

Business risk incl. changing client

behaviour, increased

competition

Both KBC’s improved risk profile and embeddedness of risk management in the organisation

provide a solid basis to respond to future challenges

KBC Investor Day - June 2014 - Group Centre 76

From business unit targets to group targets

Group

targets

(next slide)

Belgium Business Unit

Targets

Czech Republic Business Unit Targets

International Markets Business Unit Targets

+ Group Centre See next slide

* Excluding marked-to-market valuations of ALM derivatives

• The adjusted result of the Group Centre mainly includes:

- Results of holding-company-related activities: rather constant

- Subordination costs: depends on issuance

- Funding costs of participations: increasing following expected rise in interest rates

- Results of companies in run-down: limited

• Overall net contribution to adjusted results in 2017 estimated at roughly EUR -0.3 bn

77

Group Centre

KBC Investor Day - June 2014 - Group Centre

• KBC wants to be among Europe’s best performing retail-focused financial institutions. This will be achieved by:

- Strengthening our bank-insurance business model for retail, SME and mid-cap clients in our core markets, in a highly cost-efficient way

- Focusing on sustainable and profitable growth within the framework of solid risk, capital and liquidity management

- Creating superior client satisfaction via a seamless, multi-channel, client-centric distribution approach


Summary: KBC Group wants to be among the best performing retail-

focused financial institutions in Europe


• Bank-insurance gross income: the commission received by the bank from the linked group insurer plus the insurance income on the insurance products sold by the bank branches (referrals by bank branches to insurance agents are not included)

• CAGR: Compound Annual Growth Rate

• Combined ratio (non-life insurance): [technical insurance charges, including the internal cost of settling claims / earned insurance premiums] + [operating expenses / written insurance premiums] (after reinsurance in each case)

• Common equity ratio (CRR/CRD IV/Basel III): [common equity tier-1 capital] / [total weighted risks]. The calculation is based on the Capital Requirements Regulation (CRR) and Capital Requirements Directive (CRD IV) approved and published by the EU, and includes in the numerator the core-capital securities sold to the government that are grandfathered by the regulator, as well as latent gains (reserve for available-for-sale assets). The minimum target set by the regulator for the common equity ratio does not take account of these latent gains

• Cost/income ratio: [operating expenses of the banking activities] / [total income of the banking activities]

• Credit cost ratio: [net changes in impairment for credit risks] / [average outstanding loan portfolio]. For a definition of the loan portfolio, see the ‘Value and risk management’ section in KBC Group’s annual report for 2013 (government bonds, for instance, are excluded)

83

Annex: glossary

KBC Investor Day - June 2014 - Annex

• Liquidity coverage ratio (LCR): [stock of high-quality liquid assets] / [total net cash outflows over the next 30 calendar days]. LCR is calculated based on KBC’s interpretation of current Basel Committee guidance, which may change in the future. The LCR can be relatively volatile in future due to its calculation method, as month-to-month changes in the difference between inflows and outflows can cause significant swings in the ratio even if liquid assets remain stable.

• Net stable funding ratio (NSFR): [available amount of stable funding] / [required amount of stable funding]. NSFR is calculated based on KBC’s interpretation of current Basel Committee guidance, which may change in the future.

• Return on allocated capital for a particular business unit: [result after tax (including minority interests) of a business unit] / [average allocated capital of the business unit]. The capital allocated to a business unit is based on the risk-weighted assets for the banking activities (based on Basel III) and risk-weighted asset equivalents for the insurance activities (based on Solvency I)

84

Annex: glossary

KBC Investor Day - June 2014 - Annex

2012 KBC Group CEO

2009 Member of the Executive Committee of KBC Group

CEO of the Belgium Business Unit

2006 Member of the Management Committee of the Belgium Business Unit

2001 Senior General Manager of Non-Life Insurance, KBC Insurance

1998 General Manager for Limburg and Eastern Belgium, KBC Insurance

1995 Head of the Non-Life Department, Limburg Regional Office, ABB Insurance

1988 Various actuary positions in the life and non-life businesses at ABB Insurance

Johan Thijs, KBC Group CEO

Born in 1965 Married, 2 children

Likes cycling, travelling and Italian wine

KBC Investor Day - June 2014 85

2011 KBC Group Chief Financial Officer


CEO of the market activities of the Merchant Banking Business Unit

2009 Member of the Executive Committee of KBC Asset Management

2008 General Manager of the Trade Finance Division, KBC Bank

2002 General Manager of the Strategy & Expansion Division, KBC Group

1999 Executive Director of Corporate Finance, KBC Securities

1995 Various positions at Warburg Dillen Read and SBC Warburg in UK

1988 Various positions in corporate

banking, Kredietbank

Luc Popelier, KBC Group CFO

86


Likes running, cycling , skiing and reading


2012 Member of the Executive Committee of KBC Group CEO of the Belgium Business Unit

2009 President of the Executive Committee of CBC Banque

Member of the Management Committee of the KBC Belgium Business Unit

2004 Managing Director of Deutsche Bank’s Global Transaction Banking in Western & Eastern Europe & Middle East

1991 Various positions at Deutsche Bank AG (Belgium)

1989 Production Inspector at De Vaderlandsche insurance company

Daniel Falque, Belgium Business Unit CEO

87


Likes travelling , architecture and dining with friends


2014 CEO of the Czech Republic Business Unit

2010 KBC Group Chief Risk Officer


CEO of the Central & Eastern Europe and Russia Business Unit

2006 Senior General Manager of the Central & Eastern Europe Banking Division, KBC Group

2003 CEO of K&H Bank in Hungary

1996 Various positions in Kredietbank’s/KBC Bank’s Southeast-Asia offices

1978 Various positions at Barclays Bank in UK and Taiwan

John Hollows, Czech Republic Business Unit CEO

88


Likes sailing


2014 CEO of the International Markets Business Unit

2013 CEO of the International Product Factories Business Unit


CEO of the Merchant Banking Business Unit

2003 Senior General Manager of KBC Bank Corporate Banking

2001 Senior General Manager of KBC Bank Corporate & Institutional Banking, Belgium

2000 Senior General Manager of KBC Bank Investment Banking

1994 General Manager of Kredietbank’s Antwerp Corporate Office

1977 Various positions at Kredietbank in Belgium, Hong Kong, Bahrain and USA

Luc Gijsens, International Markets Business Unit CEO

89


Likes golfing, travelling and cars



KBC Group Chief Risk Officer

2003 Senior General Manager of Group Finance, KBC Group

2000 Senior General Manager of the Securities & Derivatives Processing Directorate, KBC Group

1994 Various positions in Kredietbank’s/KBC Bank’s offices and subsidiaries in France, Ireland and UK 1992 Head of the Central Department of Foreign Entities (incl. international acquisition strategy)

1987 Various positions at Kredietbank

Christine Van Rijsseghem, KBC Group CRO

90

Born in 1962 Married

Likes golfing, swimming and cycling


Documents

Important information for investors€¦ · • This presentation contains non-IFRS information and forward-looking statements with respect to the strategy, ... KBC and CBC (20% in